Wow, nice idea and executed excellently. One week? I gather you are a webdev in your day job then? XHTML Strict, jquery etc...

A couple of suggestions: For about 20 secs I couldn't figure out what this site was. Maybe a helpful tagline close to the logo? The vertical list of arenas next to the videos jerks a bit as I hover. A little unsettling. Some extra margin or padding for those boxes should fix it.

Try some viral angle - "Tell a Friend" or something. Maybe a Gabbly box to chat with anyone else who is on at the same time.

Best of luck. I hope you don't get porned.